Map of Property

NNN-Leased Sheetz, Mount Union, PA - Bankruptcy Auction

For Sale

201 North Jefferson Street, Mount Union, PA 17066

This Mount Union property for sale is located at 201 North Jefferson Street. The current listed sale price for NNN-Leased Sheetz, Mount Union, PA - Bankruptcy Auction is $450,000. NNN-Leased Sheetz, Mount Union, PA - Bankruptcy Auction is situated on a lot that is 0.8 acre in size.

Contacts

broker

Paige Myers

Totum Realty Advisors

(412) 745-5000

Property Details

  • Property Type Retail - Freestanding
  • Property Size 3,000 SF
  • Units 1
  • Lot Size 0.8 Acre
  • Property Tenancy Single Tenant
  • Date Updated Apr 10, 2024
Situated along North Jefferson Street of Mount Union in Huntingdon County, PA, this .8 acre property, just half of mile from Route 22 . This property is ground-leased to Sheetz, one of only three gas stations in Mount Union, on an absolute NNN basis.Introducing 201 N Jefferson St, a prime commercial property in Mount Union, PA which has been ground leased to Sheetz since 1976. Having invested in continual updates over the past 4 decades, Sheetz's NNN tenancy is now on it's first of five 2-year renewal periods, with 5 additional single-year renewals to follow. This property is offered as part of a Bankruptcy proceeding and presents an opportunity to acquire investment-grade tenancy for an unusually low price. Additionally, there is substantial upside potential to adjust rents to market rates at the end of the currently-prescribed renewal periods. *This property can be bundled with another NNN-leased Sheetz asset in McConnellsburg, PA.

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Highlights

  • - Corporate guarantee
  • - Absolute NNN lease
  • - Addendum drafted in 2019 to provide additional renewal periods, as Sheetz third and final renewal period was set to expire on May 31, 2022.
  • - The addendum provided (5) 2-yr renewal options and then (5) 12-month renewal options to follow
  • - Renewals at 4% rent bumps for each 2-yr renewal and 2% bumps for the subsequent 1-yr renewals.
  • - Can be offered in a portfolio with a second NNN-Leased Sheetz property in McConnellsburg, PA.
  • - Stalking horse bid has been received at $800k for both assets. (Minimum bid for this property alone must be > $450k)
  • *All offers are subject to Bankruptcy Court approval, public hearing, and an open auction in court.*

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Location

  • City Mount Union, PA
  • Zip Code 17066

Points of Interest

  • Huntingdon

    9.51 miles

  • Sheetz

    0.00 miles

  • Exxon

    0.14 miles

  • Martin Oil Co. / 24 hour fueling site

    2.34 miles

  • Kwik Fill

    4.90 miles

  • Giant Fuel

    9.25 miles

  • Sheetz

    9.34 miles

  • AMERIgreen

    9.89 miles

  • Pacific Pride

    9.89 miles

  • SGL 112 Parking

    1.70 miles

  • McDonald's

    0.42 miles

  • Riverside Cafe

    0.43 miles

  • Dairy Queen

    0.48 miles

  • Original Italian Pizza

    0.49 miles

  • Original Itialian Pizza

    2.97 miles

  • Top's Diner

    4.99 miles

  • Mill Stone Manor Restaurant

    5.24 miles

  • Miller's Diner

    5.64 miles

  • The Hidd'n Valley Restaurant

    6.31 miles

  • Hotel Wayne

    6.65 miles

  • Weis

    0.32 miles

  • Giant

    9.21 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

Contact Listing Broker

broker

Paige Myers

Totum Realty Advisors

(412) 745-5000